Relianceindustries
RELIANCE LONGI hope you can now see how RELIANCE represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that the methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Examples presented in these products are for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.
Reliance Profit booking at higher levelsAs reliance have touched its All time high for the third month, it would be advisable to book partial profits at higher levels and could wait for the Fibonacci retracement for lower levels for buying in dips. Reliance has rallied more than 75% in just 1.5 months hence expect some profit booking and correction.
RELIANCE Expected TO BEARISH JULY-LAST WEEK 2020CMP of RELIANCE is 2057 as on 23rd july 2020, by seeing current market trend most of them expecting that it will continue in bullish trend. but the bull trend is over now. this article written by me on 23rd july 2020 at 11.45pm. it may not continue in bull trend for upcoming days. as per my view of reliance it will follow downtrend for next 1 week till 30th july 2020.
price is expected to fall around 1900 to 1925
when it break 1900 we may expect upto 1850 on or before july 30th.
the idea here i shared it only for educational purpose before take any trade apply your own analysis.
Reliance sustaining logical levelsReliance, Inspite of Strong Seller Control, $Reliance sustained at logical levels. Current levels are below the median line, but consistent.
Also, RSI levels are not at oversold, we may say it at moderate levels. If consistency remains at pitchfork, We may see the level of 2000 in the near term, and If break the support of 1800 & below. We may see the level of 1650-1625.
Updated: 16 July 8.25 pm.
Disclaimer: Only for learning purpose.
Reliance - High bullish momentumNote: This is for educational purpose only.
It seems there is a good bullish momentum in Reliance. The price has not come below the Middle Bollinger Band for the last 1.5 months. RSI above 70 indicates bullish momentum as well. However, being overbought, expecting some consolidation to cool off. But overall strong bullish momentum.
Short RelianceI hope you can now see how the Reliance represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favour.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that the methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Examples presented in these products are for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.
What's nextStock took support from 21 day EMA but volume on daily chart is still below average. My EWT counts still valid till the time RIL is trading below 1978. If it breaks 1978 and close above 1950 then I will change view to bullish for 2180-2220, considering volume expansion. Yesterday's, last 2 hours have witnessed some good volume but I am still unsure about the quality of yesterday's price move. I will short RIL, if it comes to 1938-1948 with stop loss above 1978/1980.
Reliance short term setupReliance has been in a severe uptrend and the retracements have been very minimal, which show that the investors are confident that Reliance will move higher and so they are holding onto their positions. Volumes have been increasing with increase in price, which confirms the bullish sentiment for Reliance.
This is an educational post and all the opinions provided above and on charts are simply speculation. Nothing is 100% in market
Consult your financial advisor before taking trades
I do not recommend taking trades according to my analysis as you may incur loss, for which I am not responsible.
Trade carefully
Grateful🙏
Reliance Extended Third Elliot Wave Reliance continuous run-up with extended(3.618) 3rd wave to end near 1997.
Volumes are dropping suggesting it may not extend beyond 2000 levels.
4th Wave should start from there which could end between 1625-1570 zones.
It has also formed inverse head and shoulders pattern which post breakout target 2333.
All details marked in chart. Stock may not follow exact plotted numbers there could be small variation.
Disclaimer: Trading based on this analysis may not be suitable for all investors/traders.
Consult your financial advisor before trading/investing.
NIFTY50 KEY LEVELS SUPPORT AND RESISTANCE 10/07/2020 FRIDAYKey Levels for NIFTY50 : INTRADAY CHART ANALYSIS
UPPER BREAKOUT~10872
FIRST TARGET~10917
INTERIM RESISTANCE~10962
FINAL RESISTANCE~11015
********************
LOWER BREAKOUT~10783
FIRST TARGET~10738
INTERIM SUPPORT~10689
FINAL SUPPORT~10640
My views are for educational purposes only.
Please trade with caution and consult your financial adviser before trading.